Macroeconomics guru Raoul Pal says Bitcoin is providing investors with the best chance of escaping a cycle of economic despair.
The founder and CEO of Real Vision Finance says many in the middle class and the younger generation has found themselves frustrated and trapped in a low-income loop without the ability to break out.
Pal says the devaluation of the US dollar coupled with wage stagnation are the central factors leaving people impoverished, frustrated and unable to grow their wealth.
“The wage issue is why really people are so PISSED. They feel poorer. They are poorer. They have more debt. They need more debt. It’s an endless loop.
The average person can’t get in front of these massive secular waves or the falling value of the denominator (fiat currency). They can’t own enough investments to make up for the difference. It’s a poverty trap of the middle classes.”
Within this cycle, Pal asserts that the flagship cryptocurrency is